Courses 2009 - 2010

LAW A 533 Partnership Taxation

Credits: 3

Tax law consequences of income and loss from partnership business and investment activities. The topics include: Tax consequences of formation of partnerships; taxation of current partnership income and loss; and tax treatment of sales of partnership interests, distributions to continuing partners, and payments to retiring partners and estates of deceased partners. Special consideration is given to the use of partnerships as vehicles for "tax shelter" activities, and the proper role of such activities in the tax system. Prerequisite: Law A530 Basic Income Tax.